Currently if we set the product to "taxable" we need to enter a price without tax to have the cart calculate the correct tax inclusive price.
In doing so it displays each product at the tax excluding price.

If we deselect "taxable" we the show correct individual pricing and cart total but without any tax.

Is there an option to display "tax included" pricing on individual products where the cart does not add the tax again in its calculation?

Same problem for me. Jon, did you find a solution? If I uncheck this item is taxable, it doesn't show any tax value at the checkout. Even when show prices including VAT is checked, tas is added on at checkout.

Not sure if you all have this figured out now but I am also in Australia and (I think) I have it working correctly.

All my price groups were existing, but as I had not set them up to show the GST amount thought i had better correct it. I followed Tim's instructions above and could not get it to work and then realised that I also had to change the amount in any quantity discounts in the price lists. All seems to be calculating correctly now so my next task is to go through all of my price groups and update them :)

The correct Tax/ GST is showing as seperate amount in the checkout.. See attached.